Amendment to Investment Adviser fee structure

RNS Number : 5717T

The MedicX Fund Limited

08 December 2011

 



For immediate release                                                                                                 8 December 2011

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Amendment to Investment Adviser fee structure

The Board of MedicX Fund Limited (the "Company") is pleased to announce that it has agreed to a proposal from the MedicX Adviser Ltd (the "Investment Adviser") to reduce its base fee structure.  The alteration to the fee structure is designed to significantly enhance the value to shareholders as the portfolio of the Company increases.

The base fee payable under the agreement will be as follows:

Gross Assets (less cash)	Old Fee Structure	New Fee Structure
First £150 million	1.50%	1.50%
Between £150 million and £300 million	nil	nil
Between £300 million and £500 million	0.75%	0.65%
Between £500 million and £750 million	0.75%	0.50%
In excess of £750 million	0.75%	0.40%

The new fee structure will apply from 1 October 2011.

Property management fees remain unchanged at 3% of the passing rent of properties managed.

It has also been agreed to amend the calculation of the performance fee, to calculate it with reference to the average daily closing share price during the last month of the period rather than the closing price on the final day, which will reduce any volatility in that calculation.

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For further information please contact:

MedicX Group                                                              [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

MedicX Fund                                                                [phone]

David Staples, Chairman

Collins Stewart Europe Limited                                       [phone]

Andrew Zychowski/Helen Goldsmith

Buchanan Communications                                            [phone]

Charles Ryland/Suzanne Brocks

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 63 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 26 people operating across the UK.  

The Company's website address is www.medicxfund.com.  Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), are incorporated into, or forms part of, this announcement.

 

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